Law.com Subscribers SAVE 30%

Surviving the Retail Shift

Landlords' Duty to Mitigate Damages.

Part Two of a Five-Part Series

In Part One of this series, the authors addressed managing the legal process to help commercial landlords achieve the most efficient results when dealing with a defaulting retail tenant. But what happens once the shopping center owner or manager recovers possession of the lease premises?

Share with Email

sending now...

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

In Part One of this five-part series, we addressed managing the legal process to help commercial landlords achieve the most efficient results when dealing with a defaulting retail tenant. But what happens once the shopping center owner or manager recovers possession of the lease premises?

Read These Next

Bankruptcy is a fact of life in the United States. When it happens, the treatment of a lease as either residential or non-residential may be crucial to all parties -- landlords, tenants, subtenants and their counselors.

In a recent decision, Bankruptcy Judge Christopher S. Sontchi addressed the question of whether a Chapter 11 debtor, the tenant under a commercial lease, could exercise an option to renew the lease during the bankruptcy proceedings, even though the debtor was in default under the lease and the lease specified that it could not be renewed if defaults existed at the time the option was exercised.

Recently, New York’s Appellate Division, Second Department, acknowledged that commercial landlords may employ a strategy that prevents tenants from exercising Yellowstone rights, which enjoin the landlord from terminating the lease or commencing a summary proceeding.

Related Stories

The Appellate Division, Second Department, recently decided Long Island Pine Barrens Society, Inc. v. Suffolk County Legislature, an important case that pitted the interests of farmers and conservationists against a local advocacy group focused on open space and water quality.

Broker Agreed to Commission Based on Rent for First Five Years of Lease
Statements in Earlier Action Did Not Accelerate Mortgage and Trigger Statute of Limitations
Death Does Not Extend Foreclosure Limitations Period
Neighbor Granted Statutory Licence to Paint Fence
Record Did Not Establish Conveyance of Easement
Co-Tenant Entitled to Partition